Advantage Rent-A-Car is not doing well. The company has filed for bankruptcy and is consolidating some of its rental locations – including closing its Hawaii locations outright.

“The current economic environment has dramatically affected the travel industry,” said Jon Austin, spokesman for Advantage. “We have been hit with a simultaneous drop in leisure travel, with greatly increased costs and frozen credit markets. These factors are affecting many industries and companies and we are not immune from these forces. These painful steps are a recognition of that reality.”

This is further evidence of the tough times that the travel industry is currently facing…and it’s not looking like things are going to change anytime soon. Those of you that still have travel on the horizon may be able to take advantage of some really great deals soon.